Sec. 10-35a. Failure to keep or produce books and records.
113 words·~1 min read·
/il/chapter-35/act-143/10-35aA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 10-35a. Failure to keep or produce books and records. Any person who fails to keep books and records or fails to produce books and records for inspection, as required by Section 10-35, is liable to pay to the Department, for deposit in the Tax Compliance and Administration Fund, a penalty of $1,000 for the first failure to keep books and records or failure to produce books and records for inspection, as required by Section 10-35, and $3,000 for each subsequent failure to keep books and records or failure to produce books and records for inspection, as required by Section 10-35. The Department may adopt rules to administer the penalties under this Section.